Saudi officials have taken to the oil sector’s investor relations style with aplomb.
The bank revised its Brent spot price forecast to $63 per barrel for 2020.
Crude oil futures fell by Rs 18 to Rs 4,188 per barrel on Monday.
India should work with friendly nations to build a solar power satellite and place it in orbit to harness solar power as the country is running out of conventional sources like coal, says former chief of DRDO A Sivathanu Pillai.
The announcement was made at a meeting between chief minister Vijay Rupani and Executive Chairman of SB Energy Manoj Kohli. The investment will be in solar energy, wind energy and other unconventional renewable energy sources.
WTI oil futures were down 28 cents, or 0.47 per cent to $58.92 a barrel.
Money managers “didn’t know that this OPEC decision was coming,” Rob Haworth, who helps oversee about $150 billion at U.S. Bank Wealth Management in Seattle, said Friday. “They have yet to price in the OPEC+ decision today.”
Benchmark Brent oil prices were steady on Friday near $63 per barrel.
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